- Cautionary says PBT is expected to be P108.8m lower than comparative period in 2021
Homegrown micro-financing company Letshego Holdings Limited has disclosed in a cautionary announcement published on the Botswana Stock Exchange (BSE) that its profit before tax (PBT) for the six months ended 30 June 2022 is expected to be between 15 percent and 20 percent lower.
Through the cautionary announcement, the Group revealed in a performance forecast for the six-month interim period that the profit before tax for the period under review will be approximately P81.6 million to P108.8 million lower than the comparative period ended 30 June 2021, which amounted to P544.1 million. “Listing requirements of the BSE require that an issuer must publish a cautionary announcement as soon as they are satisfied that a reasonable degree of certainty exists that the relevant matrix for the period to be reported upon next will differ by at least 10 percent from the most recent financial results for the previous corresponding period,” Letshego explained in the statement.
Incorporated in 1998, Letshego is headquartered in Gaborone,and has been publicly-listed on the Botswana Stock Exchange (BSE) since 2002. Letshego is an inclusive finance focused Group with microfinance banking and consumer lending subsidiaries across 11 countries in sub-Saharan Africa. The pan-African company has over 3,000 employees comprising more than 21 nationalities and supports public and private sector individual customers, as well as micro and small entrepreneurs. Letshego has operations in 11 sub Saharan African markets, including Eswatini, Ghana, Kenya, Lesotho, Mozambique, Namibia, Nigeria, Rwanda, Tanzania and Uganda.